Mumbai: Stock indices in Asia were mixed as market participants assessed the impact of worsening tensions between the US and Iran. US President Donald Trump said the truce with Iran was "unbelievably weak" and that it was on "life support." China's CSI 300, Australia's S&P ASX 200, and Japan's Nikkei 225 indices oscillated between gains and losses, while the KOSPI was in the red.
South Korea's benchmark index underperformed its Asian peers by a wide margin, falling more than 3% in early trade. "I would call it the weakest, right now, after reading that piece of garbage they sent us," Trump said. "I would say the ceasefire is on massive life support, where the doctor walks in and says: ‘Sir, your loved one has approximately a 1% chance of living," he added.
Brent Crude oil futures were higher at nearly $105 per barrel. In macroeconomic news, the Bank of Japan, in its recent summary of opinions, said that it may have to raise rates "in response to developments in economic activity and prices as well as financial conditions. While the economy is expected to grow moderately, inflation is likely to increase gradually, the Bank of Japan said. Risks to inflation will be higher if the war in West Asia stretches on for longer.
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